There are three areas in our lives that have the greatest impact on our overall happiness and wellbeing - health, wealth and relationships. Working on building financial stability and security into your life helps you to make the most of those other key areas. Money can't buy us happiness, but it can buy us help, it can free up our time, and it can buy us choices. Financial strength can buy you the best doctors, the best lawyers, the best trainers, and the freedom to use your time the way you want to, without being tied to an unfulfilling career, trapped in the monthly cycle of servicing debts and paying bills.
Together, we can work on your financial stability, learn about the importance of financial resilience, create future financial security, independence and abundance. Let's learn about these different stages in your financial journey.
There are six stages in our financial journey through life, from debt and chaos to complete financial abundance
What do we really mean by 'broke' in the ordinary sense of the word?
Of course, broke can mean bankrupt, rock bottom, lost everything, but then we tend to say 'bust' or 'bankrupt' and that really only applies to a very few people in our society.
But broke is far more common. Broke means you live pay cheque to pay cheque, it feels like you're forever fighting to stay ahead of debt. Every month the bank account runs dry and you feel stressed until pay day. You have no substantial assets, you're paying rent or a hefty mortgage, the car is on a payment plan, you have no pension savings to speak of and little tucked away for the proverbial rainy day.
This uncomfortable feeling is what we mean by 'broke'. Always in debt, always playing catch up, never getting ahead. It's a miserable place to live. We've all been there at some point in time, but we don't want to stay there for long. Sadly for some people, they live their whole lives in this place, it's the unhappy place that you end up in if you don't learn to control consumer debt.
If you're broke, the first thing we have to work on together is to get you ahead of the game, working off your debts and moving on from broke, forever.
This is where we start to gain some control. We have a grip on the numbers, we have some clarity. At this stage, you can broadly state what you own, what you owe, and you are aware of your bank balance, and where your finances are sitting at any given point in the typical month.
You may not have much in the way of savings, maybe a little, but at least you are aware - you know what debts you have, and perhaps you have a plan to pay them off.
Working together, we will build this picture of your finances, we'll get clarity, we'll map a way forward to release you from debt and start building your net worth.
A little room to breathe. At this point you are in control, you've reached a point where your monthly income exceeds your outgoings, you're putting a little away in savings, you have enough money in savings and investments that you could ride out a few months unemployed if you had to, to cover a job loss or some other unforeseen circumstances.
Stability comes when we have taken control of our debts, we are earning enough to fund a comfortable lifestyle and - inportantly - we have some left over at the end of the month to help build a more abundant future.
Resilience means the ability to recover from difficulties, or the ability to stand through tough times. Financial resilience means being able to survive through difficulties, such as hefty unforeseen expenses, an unexpected drop in or loss of income; it means being able to stand through tough times, such as recession, loss of income, relationship breakdown, market downturn or other such hardships that come our way from time to time.
When you are financially resilient, you likely have no debts, you have savings set aside that might cover anything form a few months to a couple of years without income, you have savings set aside for later stages in life, and perhaps you have assets that work for you, investments that generate you an income even when you are not working.
Resilience means a disaster doesn't have to become a crisis, it means you will cope, and bounce back, without suffering too much harmful stress.
Financial independence is a great place to get to, and a place that sets you apart, because in all honesty most people never get here. My preferred way of thinking of financial independence is this - it's being debt free, owning all of your things (homes, cars, etc.), and being able to remove any link between what you do with your time between 9am and 6pm Monday to Friday, and generating the income you need to cover all your monthly living expenses.
That's financial independence. You have assets in place, investments, that generate an income for you, enough to cover all your regular monthly living expenses (food, bills, insurance, fuel, etc.) and you are free to use the majority of your waking hours doing what you want, irrespective of whether or not that activity earns any income. Your cost of living is independent from what you do all day. That's the vision of financial independence that I pursue. You work because you want to, not because you have to, and that work you pursue for purpose, not for money, because you don't have to earn any particular amount from your work, you are free to pursue your pasisons, without the need to chase a pay cheque. That's freedom, that's financial independence.
The top of the tree. Financial abundance is having everything described in 'financial independence' plus all the free cash flow you have ever dreamed of. Financial abundance might mean earning five grand per month to some people, while some others may think five million per month barely comes close. It's not an amount, it's the amount that you determine to give you complete abundance.
Freedom from debt, owning all you want to own, freedom from ever having to work again unless you want to, and having ample free cash flow in any month or year to fund all the things you have ever wanted. One person may be abundantly happy to own a modest home and a new car, debt free, and take holidays whenever they like. Another person may want luxury sports cars, a yacht, several penthouses, a private jet, a helicopter and to own a football team. A third person may want to build schools and hospitals in Africa, supply clean drinking water to villages in Central Asia, and fund an orphanage, hospice or charitable foundation. There are no rules. Financial abundance is the top of the game, it's the freedom to do what you want, to live the rest of your life the way you want to, without ever having to worry if you have the money behind you to make it happen.
Whatever stage you are at now in your personal financial journey, we can work together to move you up the ladder. There is no right or wrong, there is only progress. Without a vision, we perish. Let's craft your vision together, and then build and implement a plan to get you making progress right away.Let's Talk!
Let's connect and talk about where you are, what challenges you face, and where you want to be. Together, we can make a plan to move you forward and set you on a better path towards the future you desire.
This website is for information purposes only. This site does not offer investment advice nor solicit for investments.
Please note that I am not a professional financial advisor and I am not giving financial advice. I am just sharing my own personal experiences and the findings of my own research. All opinions and ideas are my own personal thoughts.
You use this website at your own risk. By continuing to use this site, you indemnify Karl Whitfield, MND Health Ltd, and it's Directors, Employees or Agents, against any claims, losses, damages, liabilities or expenses you incur as a result of your actions and investments.
"Great fun. Hugely enjoyable. Karl is an engaging and charismatic presenter with a persuasive message. Loved his passion and desire to altruistically help humanity and the planet. More power to you!"
"In my life I have been privileged to have many top class coaches and mentors in sport, business, lifestyle. Karl is the best. It is like having a caring, fun and very smart big brother supporting you in all areas you identify. Health? Karl has got your back. Business? He has got your back and will help you earn more. Lifestyle? He listens and helps protect your spirit and wellness. Finances? Karl has practiced approaches to increasing net worth. Above all this though I am proud to call Karl a true trusted friend."
"Karl shows great passion for the subject and is inspirational in helping people change their lives for the better."
"Thanks so much for this weekend Karl. I can honestly say it’s the best event I’ve ever attended. Really quite life changing. I just can’t stop smiling! As you know I’ve worked in the pharma industry and in medical research all my adult life (over 20 years). I listen to professors, doctors and experts talk about their research on a daily basis, their theories and their answers. Never have I seen someone join up the dots like you do. You know your stuff Karl. You debunk myths in a way I’ve never seen even a doctor with 30 years of expertise do. Honestly Karl. If I could ‘bottle you’ and have you speak to every doctor in the land it would change the face of healthcare. You have such passion and drive. The world needs to hear your message. Thanks Karl. You are a true force to behold."
"Great Day. Cannot recommend Karl’s seminar enough. Walked away with so much information and totally fired up. That guy is awesome and he walks the talk!"
"Life changing, I came with questions and decisions that I needed to make, and I found the answers. Feeling completely different about life and feel like a weight has been lifted off my shoulders. I knew this seminar would help me and it surely did. You NEVER fail to deliver Karl!"